Range bound 2 month | stockbee

4/29/2013

Range bound 2 month


Can the market convincingly break the two month range this week. The first attempt was a failure. But market bounced back from the pullback quickly.

The underlying breadth continues to deteriorate as lower and lower number of stocks continue to lead the advance.

The larger cap stocks continue to lead the action. But in last one week the small caps are showing some improvement in breadth.

This is not a market very conducive for breakout buying as many are failing.

In sector trends homebuilders look attractive, they are making new high after brief pullback and also have earnings growth to support further advance.


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